Order on shareholding reports and digital platform establishment at Stock Exchanges

বাংলাদেশ সিকিউরিটিজ অ্যান্ড এক্সচেঞ্জ কমিশন
সিকিউরিটিজ কমিশন ভবন
ই-৬/সি আগারগাঁও, শের-ই-বাংলা নগর প্রশাসনিক এলাকা, ঢাকা-১২০৭ www.sec.gov.bd

SEC/SRMIC/94-231/942
June 22, 2020

ORDER

Whereas, the Bangladesh Securities and Exchange Commission deems it to be proper that in the interest of investors in securities and the capital market, certain directions should be issued to both the Stock Exchanges and listed companies/issuer of securities/mutual funds regarding the provisions of listing and continuous listing requirements such as applications, shareholding report/unit holding report, declaration, corporate actions, financials disclosures, publication and dissemination of Price Sensitive Information (PSI) and material information and other compliances and submissions by the issuer companies/issuer of securities/mutual funds under the Dhaka/Chittagong Stock Exchange (Listing) Regulations, 2015 and securities laws;

Whereas, the philosophy of "Digital Bangladesh" comprises ensuring people's democracy and rights, transparency, accountability, establishing justice and ensuring delivery of government services to the doorsteps of the citizens through the use of technology; with the ultimate goal to improve the lives of the people;

Now, therefore, in exercise of the power conferred by section 20A of the Securities and Exchange Ordinance, 1969 (XVII of 1969), the Bangladesh Securities and Exchange Commission hereby directs to comply with the following issues to the Dhaka Stock Exchange Limited, the Chittagong Stock Exchange Limited and all listed companies/issuer of securities/mutual funds until further order, namely:-

a) All the listed companies/issuer of securities/mutual funds shall continue to submit statements to both the Stock Exchanges as per requirement of the regulation 35(2) of the Dhaka/Chittagong Stock Exchange (Listing) Regulations, 2015. Moreover, all the listed companies/issuer of securities/mutual funds shall submit shareholding position/unit holding position using the same format as prescribed under the regulation 35(2) of the said regulation within 15 days of the end of each quarter of English Calendar to the Commission. Besides, the Stock Exchanges shall prepare and submit a summary of shareholding position/unit holding position within 15 days of the end of each month to the Commission.

b) The requirements under the regulation 35 (1) of the Dhaka/Chittagong Stock Exchange (Listing) Regulations, 2015 and Commission's Order No. SEC/SRMID/2004-08/1116-239 dated August 29, 2004 is hereby repealed;

c) Both the Stock Exchanges are advised to compile and preserve on records as mentioned at clause (a) in both soft and hard copies in such a way that subsequent verification can be undertaken and such hard copies shall be duly authenticated as per regulatory requirements;

“মুজিববর্ষের অঙ্গীকার
উন্নয়ন-অর্থায়নের উৎস হবে পুঁজিবাজার”

বাংলাদেশ সিকিউরিটিজ অ্যান্ড এক্সচেঞ্জ কমিশন
সিকিউরিটিজ কমিশন ভবন
ই-৬/সি আগারগাঁও, শের-ই-বাংলা নগর প্রশাসনিক এলাকা, ঢাকা-১২০৭ www.sec.gov.bd

d) Both the Stock Exchanges shall ensure all compliances relating to shareholding/unit holding and report to the Commission monthly, on summary basis, along with their findings and any non-compliance thereon, if any, individually within the following month;

e) In order to cope with the philosophy of "Digital Bangladesh", both the stock exchanges are directed to start immediately an integrated on-line data-gathering, information submission and dissemination platform and its compliances with regard to listing and continuous listing requirements such as applications, shareholding report/unit holding report, declaration, corporate actions, financial disclosures, publication and dissemination of Price Sensitive Information (PSI) and material information, complaint settlement and other compliances and submissions by the issuer companies/issuer of securities/mutual funds under provisions of the Dhaka/Chittagong Stock Exchange (Listing) Regulations, 2015 and securities laws;

f) In case of using any digital platform as mentioned at clause (e), both the stock exchanges shall keep on records all submissions and information in both soft and hard copies in such a way that subsequent use or verification can be undertaken by the Commission and such hard copies shall be duly authenticated as per securities laws and other regulatory requirements; and

g) Both the Stock Exchanges are advised to bring the provisions of this order to the notice of all the listed companies/issuer of securities/mutual funds and also submit a report regarding the commencement of Digital Submission and Dissemination Platform to the Commission within 15 working days.

This order shall have immediate effect.

By order of the Bangladesh Securities and Exchange Commission

(Signature)
Professor Shibli Rubayat-Ul-Islam
Chairman

“মুজিববর্ষের অঙ্গীকার
উন্নয়ন-অর্থায়নের উৎস হবে পুঁজিবাজার”